Tata Motors today announced a price hike of its product portfolio wef April 1, 2019. The price hike across its passenger vehicle offerings will be in the range of upto Rs 25,000 depending on vehicle base price. The price hike that comes into effect with the advent of the new FY is being attributed to rising input costs and external economic conditions.
Mayank Pareek, President, Passenger Vehicle Business Unit, Tata Motors, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase. We are confident of maintaining our growth trajectory in the coming months on the back of our robust portfolio consisting of segment-leading products like Tiago, Hexa, Tigor, Nexon, and Harrier.”
In recent weeks, Tata Motors through its its partnership with Atal Indore City Transport Service Limited (AICTSL) announced 50 Tigor Electric Vehicles (EVs) for Indore. This is part of the ongoing EESL tender that has been signed. AICTSL will deploy these Tigor EVs in Indore has part of the Indian government’s e-mobility vision and goals, with zero-emission vehicles being a focus area.
Though Tata Motors EV journey currently is focused on supplying EVs to government entities, the company is keen on e-mobility and will offer a full range of electric vehicles to the Indian customers. Initiatives at present are designed to facilitate faster adoption of electric vehicles. ASSOCHAM India has selected Tigor EV as ‘Electric Car of the Year’ recently.
Tata Motors has also partnered with Wise Travel India Pvt Ltd (WTi) to operate Tigor Electric Vehicles (EVs) in New Delhi catering to B2B customers as part of Wise Travel India’s existing fleet of cars. At the ongoing Geneva Motor Show, the company has shown its Tata Altroz EV.
As India awaits the government’s roadmap of e-mobility, Cabinet Committee of Economic Affairs (CCEA) has approved a Rs 10,000 crore package under Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) Phase II for three financial years. FAME-I was put into effect in 2015, and had put aside Rs 895 crore. The new package includes direct subsidy electric vehicle buyers, and will aid in development of charging stations, technical know-how and testing facilities.
While India has trodden for the most part on ambiguous policy in the scope of electric vehicles, a new development looks to direct the market in a more favourable direction. FAME II scheme is designed to accelerate faster adoption of electric vehicles (EVs).
As per policy, Vision 2030 looks at 100 per cent electrification of public transport and 40 per cent of personal mobility by 2030. With goals laid, implementation is an uphill task. While tech is available, adoption hasn’t been superbly positive and policy unclear, which is ensured more and more manufacturers stay away from EV implementation until policy clarity.